CIBIL Scores, Meaning of CIBIL Scores

CIBIL Scores
Meaning of CIBIL Scores:-
A Credit Information Bureau (CIBIL) score is a numerical representation of an individual’s creditworthiness. It is based on their credit history and credit behavior. The score is generated by Credit Information Companies (CICs) or Credit Bureaus, which collect and maintain credit information of individuals and companies. In India, CIBIL is one of the prominent credit bureaus.

Features of CIBIL scores:-
a) Range of CIBIL Scores:
CIBIL scores typically range from 300 to 900. Higher scores indicate better creditworthiness.

b) Factors Influencing CIBIL Score:
1. Credit Payment History (35%): Timely repayment of loans and credit card bills positively impacts the score.